Funding arb · Price arb /

CRCL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0082%/8h= −9.0% APRpaid last 24h +0.068%

Price spread now: RISEx against Paradex−0.046%7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Paradex Short on RISEx

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropParadex: Active · farm boardneeds both histories

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and RISEx is 0.046% cheaper against Paradex than usual: you would sell low and buy high (−$5 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Paradex CRCL-USD-PERP	92.155	0.0082	pay 0.0082% / 8h	5h 01m	$756	$740	5x
Short	RISEx CRCL/USDC	92.112	0	get 0.0000% / 1h	1m 45s	$421K	$298K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

RISEx against Paradex. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee ParadexbpFee RISExbpOrdersPrice spread, now −0.046%Rate

Funding earned: −$17.2
Price spread: −0.046% → 0.000%: −$4.64
Slippage, 4 orders: no order book: not counted
Fee Paradex: 2 bp × 2 orders: −$4
Fee RISEx: 3 bp × 2 orders: −$6
Net: −$31.84
Costs to cover: 0.100%
Break-even: never at this rate

Slippage unknown: Paradex: no order-book sample; RISEx: live order book, 62 min ago. Net counts fees only.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again

Leg	Half-spread	$10k	$100k	$1M	$5M
Buy Paradex no order-book sample	—	—	—	—	—
Sell RISEx live order book, 62 min ago	1.63 bp	4.6 bp −$5	6.4 bp −$64	doesn't fit	doesn't fit

Paradex: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

CRCL on 34 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget CRCLUSDT	−0.1021%	8h	92.120	−0.038%	$16.1M	$34.6M	25x	as long as short
Vest CRCL-USD-PERP	−0.0075%	1h	91.860	−0.320%	—	$31K	25x	as long as short
Coinbase International CRCL-PERP-INTX	−0.0016%	1h	92.080	−0.081%	$908K	$501K	10x	as long as short
Aster CRCLUSDT	0.0000%	8h	92.088	−0.073%	$1.1M	$5.0M	20x	as long as short
Extended CRCL_24_5-USD	0.0000%	1h	92.066	−0.097%	$1.1M	$5.7M	10x	as long as short
Binance CRCLUSDT	0.0000%	8h	92.081	−0.080%	$105.0M	$386.3M	50x	as long as short
Bybit CRCLUSDT	0.0000%	8h	92.100	−0.059%	$15.2M	$25.9M	50x	as long as short
RISEx CRCL/USDCshort	0.0000%	1h	92.112	−0.046%	$421K	$298K	10x
Gate CRCL_USDT	0.0000%	8h	92.120	−0.038%	$7.2M	$27.0M	50x	as long as short
Variational Omni CRCL	0.0000%	8h	91.967	−0.204%	$2.5M	$3.2M	—	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GRVT CRCL_USDT_Perp	0.0000%	8h	92.015	−0.152%	$68K	$1.1M	10x	as long as short
Phemex CRCLUSDT	0.0000%	4h	92.110	−0.049%	$1.0M	$49K	10x	as long as short
OKX CRCL-USDT-SWAP	+0.0005%	8h	92.090	−0.070%	$21.6M	$59.8M	50x	as long as short
QFEX CRCL-USD	+0.0023%	1h	92.070	−0.092%	$1.3M	$2.1M	10x	as long as short
Aftermath Perps CRCLUSD	+0.0024%	1h	92.047	−0.117%	$2K	$24K	5x	as long as short
Lighter RH CRCL	+0.0032%	1h	92.127	−0.030%	$977K	$2.9M	10x	as long as short
Arcus CRCL-USD	+0.0040%	1h	92.000	−0.168%	$93K	$273K	10x	as long as short
tradeXYZ xyz:CRCL	+0.0050%	1h	92.040	−0.125%	$68.6M	$41.4M	10x	as long as short
Polymarket Perps CRCL-USD	+0.0050%	1h	92.058	−0.105%	$359K	$1.1M	10x	as long as short
SoDEX CRCL-USD	+0.0050%	1h	92.061	−0.102%	$46K	$3K	10x	as long as short
Ondo Perps CRCL-USD.P	+0.0050%	1h	92.020	−0.146%	$1.0M	$5.2M	10x	as long as short
Deribit CRCL_USDC-PERPETUAL	+0.0076%	1h	92.120	−0.038%	$4K	$767K	10x	as long as short
BloFin CRCL-USDT	+0.0080%	8h	92.040	−0.125%	$1.1M	$1.3M	20x	as long as short
Paradex CRCL-USD-PERPlong	+0.0082%	8h	92.155	long leg	$756	$740	5x
Pacifica CRCL	+0.0100%	1h	92.125	−0.032%	$133K	$156K	10x	as long as short
KuCoin CRCLUSDTM	+0.0100%	8h	92.080	−0.081%	$2.7M	$2.0M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	92.000	−0.168%	$68K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	92.070	−0.092%	$918	$2K	10x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	92.068	−0.094%	$4	—	10x	as long as short
Phoenix CRCL	+0.0183%	1h	92.176	+0.023%	$27K	$84K	10x	as long as short
Lighter CRCL	+0.0208%	1h	92.120	−0.038%	$3.0M	$2.4M	10x	as long as short
Nado CRCL-PERP	+0.0221%	1h	92.023	−0.144%	$131K	$104K	3x	as long as short
Injective CRCL/USDC PERP	+0.0440%	1h	92.530	+0.407%	$5K	$19K	30x	as long as short
edgeX CRCLUSDC	+0.0747%	4h	91.992	−0.177%	$23K	$249K	10x	as long as short